EURUSD is set to recapture 1.3966 with a breach , support 1.3773 !

As shown on the daily chart below , the EURUSD was rejected from the weekly support 1.3785 with bullish divergence on the daily chart , and printed support at the 1.3773 levels . As as result ; outlook in EURUSD turns on the upside on the daily time frame with risks towards the 1.3930/1.4000 levels , further upside will aim the 1.4080 levels.

On the weekly chart , the pair has printed a temporary resistance at the 1.3865 levels few weeks ago , last Friday the pair closed on weekly at 1.3870 , few pips above 1.3865 levels , this scenario should recapture the 1.3966 levels at least .

Conclusion : since the pair was rejected from the weekly support 1.3785 with bullish divergence on the daily chart , printed support at the 1.3773 levels and breached above the weekly resistance 1.3865 , a higher leg above the 1.3966 levels is in sight within 1.4080/1.4180 range before the next fall, note that this scenario is valid as long as the daily close is above the 1.3773 levels , losing the 1.3773 levels on a daily closing basis will extend losses towards the 1.3672 levels before the next possible rise…..